|
NEW LISTING 
#710 1633 Ontario Street Vancouver
Want to buy in the Olympic Village but feel that everything is overpriced? Look no further than this west-facing 750 SqFt 1-Bedroom + Den that has views of the City & False Creek. Why pay $900-$1,000 per SqFt when you can purchase a similar unit for under $800 per SqFt. The kitchen features Sub-Zero and Miele appliances with granite counters and an efficient layout. All of the benefits of this state-of-the-art LEED Platinum building for a price that makes sense. Don't miss this fantastic opportunity
List Price: $599,000 |
JUST SOLD
#101 1513 Bowser Ave
North Vancouver
Get in on the 'ground floor' of this fabulous townhouse! Big dogs! Morning jogs! All the things you didn't think possible in a North Vancouver strata property are awaiting you here at the Illahee, a pet friendly complex sitting on five park-like acres on land in Norgate. Just 10 minutes to downtown and only steps to local shopping.
List Price: $429,000 |
|
| Greetings!
As we move into the Fall market expect to see the inventory swell creating greater opportunity for buyers. Motivated sellers may have to lower prices in order to set themselves apart from their competition. |
|
Buyer's Market Conditions Continue
Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining. The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.
From a wider perspective, last month's residential sales represent a 40.4 per cent increase over the 1,568 residential sales in August 2008, a 34.9 per cent decline compared to August 2007's 3,384 sales, and a 26.6 per cent decline compared to August 2006's 2,998 sales.
New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in August 2010 compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at 15,421, a 6.1 per cent decline from last month and a 29 per cent increase from August 2009.
"We're seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace, all variables that favour those looking to purchase a home," Jake Moldowan, REBGV president said. "The last few months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend after reaching record highs in April."
|
|
Bank of Canada Increases Rates
OTTAWA -The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The global economic recovery is proceeding but remains uneven, balancing strong activity in emerging market economies with weak growth in some advanced economies. In the United States, the recovery in private demand is being held back by high unemployment and recent indicators suggest a more muted recovery in the near term.
Economic activity in Canada was slightly softer in the second quarter than the Bank had expected, although consumption and investment have evolved largely as anticipated. Going forward, consumption growth is expected to remain solid and business investment to rise strongly. Both are being supported by accommodative credit conditions, which have eased in recent weeks mainly owing to sharp declines in global bond yields.
The Bank now expects the economic recovery in Canada to be slightly more gradual than it had projected in its July Monetary Policy Report (MPR), largely reflecting a weaker profile for U.S. activity. Inflation in Canada has been broadly in line with the Bank's expectations and its dynamics are essentially unchanged.
Against this backdrop, the Bank decided to increase its target for the overnight rate to 1 per cent. As a result of monetary policy measures taken since April, financial conditions in Canada have tightened modestly but remain exceptionally stimulative. This is consistent with achieving the 2 per cent inflation target in an environment of significant excess supply in Canada.
Any further reduction in monetary policy stimulus would need to be carefully considered in light of the unusual uncertainty surrounding the outlook.
|
|
CMHC's 3rd Quarter Housing Outlook
Article Overview:
-Housing starts will moderate in the second half of the year, after a strong first half, with expectation of just under 24,000 total starts for 2010.
-Sales of existing homes through the Multiple Listing Service (MLS) will stabilize and increase in 2011.
-The British Columbia resale market is balanced with supply in line with demand. The sales-to-listings ratio indicates modest house price movements thorough the rest of 2010 and into 2011
|
|
|
|
|
|
|
